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Economics (AS & A Level) · Oct / Nov 2023 · Paper 11 · Question 5

9708Consumer and producer surplus

Which statement correctly describes the area of producer surplus on a demand and supply diagram?

  1. AIt is above the supply curve and below the equilibrium price line.
  2. BIt is above the supply curve and below the demand curve.
  3. CIt is below the demand curve and above the equilibrium price line.
  4. DIt is below the supply curve and above the horizontal axis.

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Correct answer: A. It is above the supply curve and below the equilibrium price line.

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